Comerica Bank Sells 401 Shares of Morningstar, Inc. (NASDAQ:MORN)

by · The Markets Daily

Comerica Bank trimmed its position in Morningstar, Inc. (NASDAQ:MORN – Free Report) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,912 shares of the business services provider’s stock after selling 401 shares during the quarter. Comerica Bank’s holdings in Morningstar were worth $3,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its stake in Morningstar by 0.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider’s stock worth $1,895,000 after acquiring an additional 37 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Morningstar by 49.5% in the 4th quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock worth $47,000 after purchasing an additional 46 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Morningstar by 178.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Covestor Ltd boosted its stake in shares of Morningstar by 14.6% during the fourth quarter. Covestor Ltd now owns 416 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 53 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Morningstar by 13.1% during the fourth quarter. UMB Bank n.a. now owns 467 shares of the business services provider’s stock valued at $157,000 after buying an additional 54 shares during the period. Institutional investors own 57.02% of the company’s stock.

Analyst Upgrades and Downgrades

MORN has been the subject of a number of analyst reports. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. BMO Capital Markets reduced their target price on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a report on Monday, March 3rd.

Get Our Latest Stock Analysis on Morningstar

Insider Activity

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,280 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $320.57, for a total transaction of $410,329.60. Following the sale, the chairman now owns 10,130,378 shares in the company, valued at approximately $3,247,495,275.46. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 61,443 shares of company stock valued at $19,164,301 over the last ninety days. 36.20% of the stock is currently owned by insiders.

Morningstar Trading Up 1.5 %

Shares of NASDAQ:MORN opened at $297.93 on Thursday. The business’s 50-day moving average is $286.24 and its 200 day moving average is $318.70. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. Morningstar, Inc. has a 1 year low of $250.34 and a 1 year high of $365.00. The firm has a market capitalization of $12.76 billion, a P/E ratio of 39.36 and a beta of 0.99.

Morningstar (NASDAQ:MORN – Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.13. The firm had revenue of $581.90 million for the quarter, compared to the consensus estimate of $589.07 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were paid a dividend of $0.455 per share. This is an increase from Morningstar’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Friday, April 4th. Morningstar’s payout ratio is presently 20.45%.

About Morningstar

(Free Report)

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.

Featured Articles

Want to see what other hedge funds are holding MORN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morningstar, Inc. (NASDAQ:MORN – Free Report).